Feasibility Plan for YYZ World Immigration: Business and Marketing

This assignment outlines a comprehensive business plan for YYZ World Immigration, an immigration consulting firm based in Stoney Creek, Hamilton, Ontario. The plan details the firm's services, target market, and the use of a designated agent in India for marketing. The marketing strategy includes aggressive campaigns in print and social media, word-of-mouth, and billboard advertising. Financial aspects cover client charges, costs (furniture, computer systems, permits, and ongoing expenses), and the use of an electronic record-keeping system, including Oracle software for transaction tracking. The plan also includes a location analysis, site analysis, and sales forecast. The plan also emphasizes the importance of electronic record keeping for financial transactions and adherence to legal requirements. The assignment provides a detailed overview of the business model, marketing strategies, and financial projections for the immigration consulting firm.

Promotion
Promotion is a vital tool in promoting and advertising a business and assists in creating
awareness and attract clients (Shimp & Andrews, 2013). The company is relying upon
aggressive marketing campaigning both in prints as well on social media. This will help
garner awareness and knowledge about the existence of the business. The social media is an
effective medium to promote one’s business as the millennial are tech savvy and prefers
connecting over the internet more than the physical presence (Kietzmann, Hermkens,
McCarthy & Silvestre, 2011). Further, the social media can also act as a feedback medium to
gauge at the effectiveness of the services offered or the advertising campaign carried out. The
grievances as well suggestions of the customers can also be obtained from the social media
page of the
The company is also relying upon the ‘word of mouth’ publicity to reach out to greater
customer groups in Toronto and other nearby places (Buttle, 1998). The company will also
undertake billboard advertising in prime locations such as immigration and visa offices,
where it can attract some potential clients. Additionally, the college campus where influx of
foreign students are more and they can be attracted and offered the immigration services. The
frequency of the advertising will be kept quarterly, at the end of which the advertising
medium will be evaluated for efficiency and renewed.
Cost and Expenses
The overall charge per client on an average would be $5000- $6000. Since, the charge
is on a higher side, the company might also consider taking some cases that are pro-bono.
Further, an addition of 5% is charged as GST.
The main cost of the firm would be obtaining the furniture and setting up various
computer systems. The furniture purchase will be a fixed cost and it will amount to $10,000,
while the cost of setting up the computer and other electronic record keeping system will
come to approx. $4000. The license permit is charged at $700, which is the exam fee, and
applicable as and when due. Additionally, the costs and expenses on monthly / yearly basis is
as follows:
Cost / Expenses Amount in $ (monthly) Amount in $ (yearly)
Electricity And Water $500 $6000
Maintenance Fees $2000
Advertising Cost $400 $600

Systems
Every business needs a proper manual or electronic systems for recording the
transaction, keeping a stock of the inventory and accounting for the business
(Business.qld.gov.au, 2019). For the ‘YYZ World Immigration’ business, electronic record
keeping system will be installed, which will keep a stock of all the data entry done, both for
the purchases as well the payments made in separate departments. The Oracle software will
be used for maintaining a record of all the business and taxation transactions. The receivable
departments will enter all the sales made or receipts, whereas the payment section will record
all the payments given and purchases made. As per the mandated laws, the records will be
maintained for a period of six years after the end of the last tax year to which they relate
(2019 TurboTax® Canada Tips, 2019).

References
Business.qld.gov.au. (2019). Electronic and manual record keeping. [online] Available at:
https://www.business.qld.gov.au/running-business/finances-cash-flow/records/
electronic-manual [Accessed 28 Jan. 2019].
Buttle, F. A. (1998). Word of mouth: understanding and managing referral marketing.
Journal of strategic marketing, 6(3), 241-254.
Kietzmann, J. H., Hermkens, K., McCarthy, I. P., & Silvestre, B. S. (2011). Social media?
Get serious! Understanding the functional building blocks of social media. Business
horizons, 54(3), 241-251.
Shimp, T. & Andrews, J.C., 2013. Advertising promotion and other aspects of integrated
marketing communications. Mason: Cengage Learning.
2019 TurboTax® Canada Tips. (2019). Tax Tip: How Long Should I Keep My Income Tax
Records? | 2019 TurboTax® Canada Tips. [online] Available at:
https://turbotax.intuit.ca/tips/tax-tip-how-long-should-i-keep-my-income-tax-records-
76 [Accessed 28 Jan. 2019].